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First off let me say - Mike great job on the blog, indicators and now the forum. Secondly its good to be in great company with all of you guys. Its by sharing that we keep moving forward....
Ausy Mick
The following 4 users say Thank You to Ausy Mick for this post:
i looking forward to being at this forum and showing how i trade and hopefully sharing some ideas with some experienced traders and i will try to help anybody in some way.
Good site Mike
The following 3 users say Thank You to rassi for this post:
Here's my story.
I was introduced to trading by an old friend of mine back in 1999. It was during my university studies. And I was doing some business with small stuff. Mostly selling and buying things. I had saved some money, and the studies started to take a whole deal of energy and time, so I decided to stop with my business in order to concentrate on my studies more.
That's when this friend of mine came in the picture. He suggested that I would "invest" my money in stocks. I went like, what are those?
I didn't knew anything at all about the markets and how things worked. Anyway, he told me to read one of those daily financial newspaper and come back to him a week later. And so I did.
Now you see this dude, had a huge ego, and when I asked him to explain how things were working he just said that he will tell me one day. But for now, he instructed me on how to open an account and later ask him for some tip.
I opened an account and started to "hang on his door" in order to get my tip. On the first tip he gave me, I doubled (I was trading warrants) my money! Man, I thought I had found true alchemy. Remember guys this was back in 1999. I don't know if you guys were in this business back then but we had the IT bubble back then. It was crazy. There were stocks that were introduced in the markets today and one week later they increased their value with 700% or more.
So I started to make big money. In the mean time, I was starting to wonder how this guy was doing all this. So I asked him. But because of his big ego, he refused to tell me. I guess he liked that I was depending on him, it helped his ego to feel valuable.
Anyway, time went by, I started to throw myself into the markets and do money on my own. It was crazy. It took me about six month to four double my portfolio, and about four month to loose it all.
It took me about one year to understand that I had made money without having the slightest idea of what I was doing. I managed to blow up one more account shortly after.
But you see, something in me didn't just let me give up. It's been said that out of hundred people, about 75% surrenders after the first hindrance. After the second one there are only left about 10%, eventually you have about 1-5% that refuses to let go. Call it, stupidity, stubbornness, obsession, goal orientation. I believe it's a mixture all of these crazy factors.
And that's where I was, amoung those 1-5% that refused to give up.
You see trading is such a wonderful thing, because it gives you freedom and independence. At least that's what all people believe that doesn't know anything about real trading. It's the worlds freaking hardest job. But yes, we have to recognize that, it really rewards you with all that, when you've done it all the way.
So, back to my story. I managed to blow up one more account again. And that's when I got tired. Tired of loosing money. Unfortunately that's not gone hold you back from loosing them . But it's a big step , in the right direction.
By that time, I had managed to learn about technical analysis, and about indicators.
It's been said, that a trader goes through four phases.
1. Being unconsciously incompetent. That's when you don't know anything about the markets. Unfortunately most people get in the markets, on the last wave of a bull market. Like me, that's why I was able to four double my account, and that's why that old friend of mine, nailed almost every tip he gave me. The only thing required is to be in the markets. Everything is going up.
2.Consciously incompetent. That's when you've realised that making money in the markets has nothing to do with buying low and sell it higher. So you start learning technical analysis. But you still loose money.
3. Consciously competent. If you haven't given up by now. You have started to gain experience. You can read the markets and feel the pulse. You're discovering that there are more advanced things that you can use;Indicators. But unfortunately you still lose money.
4. Unconsciously competent. That's the zone guys. That's where you've managed to put all the pieces together. You've been through it all. You've learned to master yourself, and you've done such a great job, that you're trading without forcing yourself to do it. You're relaxed, and all the pieces, are there. Think of the way you guys drive your cars. You don't think of it, you just do it, and it turns out perfect.
Today I'm flirting with number 4, and my goal is to make it fully and to remain there.
I went here, because I finally understood that trading had to do everything with me. So after blowing up those accounts, and because of my stubbornness, I started to understand that the answers are not in those other parts. I started to study the brain, and how it functions.
This is odd, in a way. We all have one, and it's our controll panel, but we're not spending much time at all learning how it works. We cary it around above our shoulders, and that's it.
After studying the brain, and a lot of psychology, trading psychology, clinical psychology, you name it. The answers were still not there. And where the answers stops and you can't go further, you have to pass over to the spiritual realm.
That's when I finally started to get the answers. Please, understand me right. My approach has absolutely nothing to do with religion, faith or something in that direction. But simply with the mind, and it's implementation particularly in life. Unfortunately the mind is not standing on it's own scientific column yet. But it is there, it is there in your own life, and especially in trading, in the markets. Have you ever thought about it?
Have you ever thought that the markets are moved by a collective mind. And when you feel the pulse of the markets, you're doing that because you tap into that collective mind?
So that's my story more or less, I believe that, the most important approach to trading is mental. And it has everything to do with your mind, and what lies in there.
Trade well, and may the Trend Gods be with you all!
/George
The following 68 users say Thank You to George for this post:
Nice, but no grail. I will be sharing. Maybe others can make them work better.
